One of the easiest options to deposit at online betting sites in India is Paysafecard, a prepaid card. It is accessible even when you don’t have a bank account and allows you to pay cash and use a PIN to fund your online betting account and play for real money.
What is Paysafecard
Paysafecard is a prepaid payment method that was conceived in 2000 in Austria. The idea behind this payment option was to complete anonymity during financial transactions. There should be no need to hand over your bank or credit card details. And so, this prepaid system was developed.
Whilst it was only possible to buy Paysafecards at retailers for many years, the company eventually also moved its services online, allowing virtual prepaid vouchers to be purchased online.
The payment service spread its service around the world, starting in Europe and then moving into the Americas. Now, you may get Paysafecard vouchers at retailers in 40 countries around the world, which also includes India.
Paysafecard also obtained a license from MasterCard, which meant options based on MasterCard services were added to their services.
In 2013, Skrill bought Paysafecard, but the company continues to operate under its own brand.
One of the main benefits of using Paysafecard is the fact that you don’t have to have an account. You don’t need a bank account, an e-Wallet or any other sort of account to use in conjunction with Paysafecard. You do, however, need to have a retailer close enough at hand to be able to purchase a prepaid voucher.
You can usually choose the amount you wish to purchase a prepaid voucher for, however, there is also a limit. You can easily buy a voucher for INR 10,000 or 50,000. But amounts in excess of INR 200,000 might be an issue.
Either way, the voucher has a 16-digit PIN, which is reminiscent of a credit card number and used in a similar way.
Paysafecard is an accepted payment method not just at online betting sites in India but also at many other online retailers, where you wish to purchase various goods.
Whenever you choose Paysafecard as your payment method, you’ll be asked at the checkout or cashier to enter the 16-digit PIN. Depending on the value of your voucher and the amount you need to pay, you will then enter your PIN and maybe have funds remaining on the voucher. Those can be used the next time you want to pay with Paysafecard.
As long as funds are associated with the voucher you have, you can keep using the same PIN. When you’ve used the funds, you can simply purchase another prepaid voucher at your retailer.
By the way, it is possible to purchase prepaid Paysafecard vouchers online as well. However, you would then need a bank account or a credit card to fund the voucher.
Depositing with Paysafecard at an online betting site
As it is, almost all online betting sites we know of and most of those we recommend here allow the use of Paysafecard to fund your online betting account. Simply head on over to the cashier and choose it as a payment method. Then you enter the amount you wish to deposit, provided that this amount is available on your prepaid voucher. Next, you need to enter the 16-digit PIN of your voucher, which enables the casino to deduct the amount from your voucher. Once the transaction is confirmed, you can start placing bets on your favorite sports.
If you have funds remaining on your voucher, you can use it again next time.
The only problem with using this payment method is that you are unable to use it to make withdrawals. If your bet wins, you are likely going to want to withdraw the winnings at some point. You can always use some of them for future bets. But the point also is to withdraw the wins and spend them on something nice.
So, make sure you have an alternative way to make withdrawals. If you don’t have your own account, you might be able to use a friend’s. Having an e-Wallet is also an option, which would at least get the funds into a private account of your choosing. And you can always use the funds in your e-Wallet for online purchases.
Some advantages of Paysafecard
Let’s see if Paysafecard may be an option for you as a deposit method at online betting sites in India:
- Complete anonymity
- Independence from a bank account or credit card
- Safe and secure
- Good control over available funds
- Re-usable as long as funds are available on the prepaid voucher
- Funds are protected under insurance in case of theft or fraud
- Can be used at many online retailers
What are the disadvantages?
Unfortunately, there are some disadvantages. Most of them are not that bad and will still make it a viable option for making deposits and online betting sites. But you should consider the disadvantages as well beforehand.
- Use of Paysafecard may not be eligible for welcome bonuses
- Unable to use for withdrawals
- Limited to a maximum amount
Regardless of those disadvantages, the advantages of using Paysafecard usually outweigh those. It is a convenient deposit option and can be used for other purposes. And when it comes to withdrawals, we’ve given you some options that are definitely possible and you can always try out other options.